Establishes a Deferred Retirement Option Program for certain California public safety employees.
The bill establishes the Deferred Retirement Option Program for eligible California Public Employees' Retirement System safety members. Eligible members include peace officers and firefighters of State Bargaining Unit 5 and state peace officer/firefighter members of State Bargaining Unit 8. Participants can receive a one-time lump-sum payment of their program account upon termination of employment and subsequent retirement.
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